If you could only trade ONE pair for the rest of 2020, what would it be and why?

AUDUSD. It’s the pair I cut my teeth on.

@S1ckerthanS1ck I’m on oanda and I thought they provided US traders a way to trade gold and silver unleveraged. Can’t trade CFDs as US citizen though.

Although I’m new, USD/JPY is what I’ve been learning. I’ve watched my mentor do well with XAU/USD but I can’t afford to do that on my account yet. But one day!

It would never happen. NZD pairs have been the most profitable for me over the last 6 months - Oh, and USD/JPY, which is strange because I just cannot get my head around GBP/JPY or GBP/USD.

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BTCUSD tends to offer huge moves and volatility…

@lneely neely U.S. residents can trade CFD’s you just need to switch brokers. You can trade anything on Think or Swim ,Ninja Trader, AMP , Tradeovate, Webull. If you want to stay on the mt4 arena & have higher leverage look into these broker’s…Tradersway, LQDFX, LMFX, Hugosway, Uniglobe, FXGlory

@Win-Algo

I used to be enamoured with the whole specialisation and get good at one market thing

And there is a point in that, but markets are ever changing and what performed well one year might suck the next.

Im aware that many on this forum are day traders and scalpers, so do understand the idea that one market makes sense.

But sometimes we need to step back and take in the picture - even if your a scalper.

That means following the macro environment and figuring out where the money is going to flow next.

Let’s say your a scalper on the Dax, but now with Europe going into a debt deflation company earnings are not going to be good - that will affect you even intra day - the moves won’t be large

Meanwhile another market (let’s say the nasdaq) is attracting flows because of innovative tech and the moves intra day are huge.

Knowing which market the flows are going to (regardless of the timeframe traded) are what separate the average traders from the market wizards

A lot is said about only trading technicals, but you miss so much when you ignore the world and concentrate solely on one pair on a five minute chart.

This forum maybe for beginners but that doesn’t mean we shouldn’t reach for the stars and try to become market wizards

Unfortunately trading one pair I believe hinders that progress

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Jeez! You are holding a gold buy that is 33year old?

If there’s a way to do it unleveraged, Oanda got me beat cause I cant find anything other than forex pairs on the charts.

@S1ckerthanS1ck sorry I could be mistaken. May have been thinking of a different broker.

Yes. That is what comes from five year cycle planning, and long term “dollar cost averaging”. I know that an eight times increase is not much after 33 years, but that very long investment over the years that was supposed to constitute between 5% and 10% of our wealth has become over 20%. That’s less to do with the increase of gold and a lot more to do with the last decade of low value property that we chose to invest in 14 years ago. And then there is crypto :slight_smile:

All good. If that’s true, it sucks Oanda doesn’t offer that. That would deter a lot of traders to use them as a broker. I started trading Forex when I made the account with Oanda but I wish I knew that then.

Yep, same here, XAUUSD, on a 100/1 leverage and use 5 indicators moving between 1 min to 4 hour time slots, just so i know which way to move.
I’m still walking in demo for about a year now and always crashing my account.
But for the last 2 month I’ve only demo traded XAUUSD. Started with 1k and now over 17.5 k.
Do you think i should go live now.

You can trade gold in the US with FOREX.com but without any leverage. OANDA is correct that you can’t trade spot gold in the US with leverage, but they don’t offer it for trading even without leverage.

I trade RENKO charts and find GBPJPY the best mover. Renko box size 4.

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Why u think I trade one pair with five minute chart and ingore the world? Saying something without knowing the thrue its a big mistake… There is not possible to be succesful in one pair if ur are not:
-Institutional trader or market maker who has acces to level 3 or institutional clients flows
-Insider
-Or really good good trader!

of course thats why traders shifting from one instrument to another

If u want to be scalper and try to mix that with fundamentals this will not work untill u are not swing trader or position trader

@Win-Algo

Are you kidding me? I was talking hypothetically and agreeing with your comment!

Was using ‘you’ not in reference to you specifically

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:sweat_smile: sorry mate didnt understand trading now :top:

:sweat_smile: thats how traders make mistakes in life too) eyes are blurry the trader gets tired and starts to lose skill

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Lol. Well that escalated quickly. :joy: Good on you though for quickly apologizing!